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AFTER MARKET UPDATE - TUESDAY, MARCH 26TH, 2013
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Indices NYSE Nasdaq
DOW  +111.90 14,559.65 +0.77% Volume 558,345,750 -15% Volume 1,401,696,790 -13%
NASDAQ +17.18 3,252.48 +0.53% Advancers 2,067 66% Advancers 1,422 56%
S&P 500 +12.08 1,563.77 +0.78% Decliners 926 30% Decliners 1,015 40%
Russell 2000 +3.97 949.82 +0.42% 52 Wk Highs 259   52 Wk Highs 155  
S&P 600 +2.62 530.95 +0.50% 52 Wk Lows 12   52 Wk Lows 24  

Dow Jones Industrial Average Ends Strong For Best-Ever Close

The major averages tallied solid gains on Tuesday, however the volume totals were reported lighter than the prior session totals on the NYSE and on the Nasdaq exchange, indicating that the was not very robust buying demand coming from the institutional crowd.  Advancing issues outnumbered decliners by a 2-1 margin on the NYSE while and by a 7-5 margin on the Nasdaq exchange. The total number of stocks hitting new 52-week highs also easily outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. There were 70 high-ranked companies from the CANSLIM.net Leaders List making new 52-week highs and appearing on the CANSLIM.net BreakOuts Page, down from the prior session total of 92 stocks. There were gains for 13 of the 19 high-ranked companies currently included on the Featured Stocks Page.

 

Strong data on home prices and manufacturing fed optimism about the economy. Long-lasting U.S. manufactured goods, also known as durable goods orders, shot up in February. Data showed U.S. single-family home prices rose in January at the fastest pace in more than six years.  Sales of new U.S. single-family homes fell more than expected in February, and the latest reading on consumer confidence was weaker than expected.  Investors remained concerned about the negative implications of a financial rescue plan for Cyprus.

Monsanto Co (MON +4.4%) and DuPont Co (DD -0.3%) settled a legal battle over rights to technology for genetically modified seeds. The companies agreed to drop antitrust and patent lawsuits against each other in U.S. federal court. Netflix Inc (NFLX +5.4%) was the S&P 500's top percentage gainerafter an analyst raised their price target on the stock. Intel Corp (INTC +2.9%) also helped lead the tech sector higher with a solid gain.

New buying efforts are justified under the fact-based system since a follow-through day on 3/05/13 shifted the market's (M criteria) direction to a confirmed rally again after a brief correction. Any sustainable rally requires a healthy crop of companies hitting new 52-week highs, so it is always essential to see meaningful leadership (stocks hitting new 52-week highs). 

Watch for an announcement via email concerning the next WEBCAST. The webcast will also be available via an updated link highlighted at the top of the Premium Member Homepage

PICTURED: The Dow Jones Industrial Average finished near the session high for a new record high close.


Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.

Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.


Retail, Energy, Semiconductor and Internet Indexes Led Group Gains

The Retail Index ($RLX +0.64%) was a positive influence on the major averages while the Broker/Dealer Index ($XBD +0.12%) and the Bank Index ($BKX +0.34%) each posted smaller gains. Energy-related shares had a positive bias as the Integrated Oil Index ($XOI +0.84%) and the Oil Services Index ($OSX +1.36%) tallied gains. The tech sector was led higher by the Semiconductor Index ($SOX +0.91%) and the Internet Index ($IIX +0.64%), meanwhile the Biotechnology Index ($BTK +0.04%) finished flat and the Networking Index ($NWX -0.21%) edged lower. Defensive groups were mixed as the Gold & Silver Index ($XAU -0.78%) fell and the Healthcare Index ($HMO +0.80%) rose.

Charts courtesy www.stockcharts.com

PICTURED: The Gold & Silver Index ($XAU -0.78%) is still trading well below its 50-day and 200-day moving average (DMA) lines, in weak technical shape.  Regular readers are well aware the classic "safe haven" group has clearly been lagging growth oriented groups while the market has rallied.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  242.87 +3.26 +1.36% +10.32%
Healthcare $HMO  2,751.45 +21.90 +0.80% +9.44%
Integrated Oil $XOI  1,361.36 +11.29 +0.84% +9.63%
Semiconductor $SOX  433.07 +3.90 +0.91% +12.76%
Networking $NWX  232.14 -0.50 -0.21% +2.47%
Internet $IIX  361.28 +2.30 +0.64% +10.48%
Broker/Dealer $XBD  107.85 +0.12 +0.12% +14.33%
Retail $RLX  725.32 +4.59 +0.64% +11.06%
Gold & Silver $XAU  134.42 -1.05 -0.78% -18.83%
Bank $BKX  56.63 +0.19 +0.34% +10.43%
Biotech $BTK  1,779.62 +0.71 +0.04% +15.03%


Volume-Driven Gain From Cup-With-High-Handle to New 52-Week High

Often, when a leading stock is breaking out of a solid base it is highlighted in CANSLIM.net's Mid-Day Breakouts Report. The most relevant factors are noted in the report which alerts prudent CANSLIM oriented investors.  After doing any necessary backup research, the investor is prepared to act. Disciplined investors know to buy as near as possible to the pivot point and avoid chasing stocks after they have rallied more than +5% above their pivot point. It is crucial to always limit losses whenever any stock heads the wrong direction, and disciplined investors sell if a struggling stock ever falls more than -7% from their purchase price.

Ambarella Corporation (AMBA +$0.91 +6.44% to $15.04) was higlighted in yellow with pivot point based on its 3/08/13 high plus 10 cents in the earlier mid-day report (read here). It gapped up today for a 2nd consecutive session while rallying for considerable gains with heavy volume. It hit a new 52 week high and rose from a cup-with-high-handle base triggering a technical buy signal. Disciplined investors avoid chasing stocks more than +5% above their pivot point and they limit losses by selling if ever any stock falls more than -7% from their purchase price.

The high-ranked Electronics - Semiconductor firm reported earnings +80% on +28% sales revenues for the Jan '13 quarter. Its strong quarterly earnings comparisons versus the year ago periods satisfy the C criteria with increases above the +25% minimum guideline. It also has a good annual earnings (A criteria), however it has a limited history since its IPO at $6 on 10/10/12. The number of top-rated funds owning its shares rose from N/A in prior quarters to 51 as of Dec '12, a reassuring indication concerning the I criteria. Its current Up/Down Volume Ratio of 1.4 is also an unbiased indication that its shares have been under accumulation over the past 50 days. Its small supply (S criteria) of only 13.3 million shares in the public float can contribute to great price volatility in the event of institutional buying or selling.


Color Codes Explained :
Y - Better candidates highlighted by our staff of experts.
G - Previously featured in past reports as yellow but may no longer be buyable under the guidelines.

***Last / Change / Volume data in this table is the closing quote data***
Symbol/Exchange
Company Name
Industry Group
PRICE CHANGE
(%Change)
Day High Volume
(% DAV)
(% 50 day avg vol)
52 Wk Hi
% From Hi
Featured
Date
Price
Featured
Pivot Featured
Max Buy
AMBA - NASDAQ
Ambarella Inc
ELECTRONICS - Semiconductor - Specialized  
$15.04 +0.91
6.44%

$15.47

1,171,674
518.21% of 50 DAV
50 DAV is 226,100
$14.73
2.10%
3/26/2013 $15.31 PP = $14.83
MB = $15.57
Most Recent Note - 3/26/2013 7:23:01 PM
Y - Finished above its pivot point with a considerable gain backed by heavy volume triggering a technical buy signal. Hit a new 52 week high while rising from a cup-with-high-handle base. See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/26/2013. Click here.

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CELG - NASDAQ
Celgene Corp
DRUGS - Drug Manufacturers - Major  
$112.47 +0.68
0.61%

$113.39

2,364,906
67.27% of 50 DAV
50 DAV is 3,515,600
$115.44
-2.57%
12/11/2012 $82.24 PP = $81.34
MB = $85.41
Most Recent Note - 3/19/2013 5:34:37 PM
G - Hovering near its all-time high after 3 consecutive small losses. Very extended from any sound base. Its 50 DMA line defines important support to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 2/28/2013. Click here.

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CFNL - NASDAQ
Cardinal Financial Corp
BANKING - Regional - Southeast Banks  
$18.23 +0.03
0.16%

$18.38

140,275
65.46% of 50 DAV
50 DAV is 214,300
$18.40
-0.92%
3/22/2013 $17.99 PP = $18.29
MB = $19.20
Most Recent Note - 3/22/2013 8:19:04 PM
Y - Closed 3 weeks in a row in a very tight range forming an advanced "3-weeks tight" base. Color code is changed to yellow with new pivot point cited based on its 3/08/13 high plus 10 cents. Subsequent volume-driven gains into new high territory may trigger a new (or add-on) technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/18/2013. Click here.

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CMCSA - NASDAQ
Comcast Corp Cl A
MEDIA - CATV Systems  
$41.47 -0.25
-0.59%

$42.00

12,964,870
92.13% of 50 DAV
50 DAV is 14,071,800
$42.00
-1.26%
12/3/2012 $37.08 PP = $38.06
MB = $39.96
Most Recent Note - 3/19/2013 5:32:52 PM
G - Testing support at its 50 DMA line while enduring mild distributional pressure. Relative Strength Rating has slumped to 75, below the 80+ guideline. Fundamental concerns remain since it reported earnings +11% on +6% sales revenues for the Dec '12 quarter. See latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/19/2013. Click here.

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CVLT - NASDAQ
Commvault Systems Inc
COMPUTER SOFTWARE and SERVICES - Business Software and Services  
$82.00 +0.74
0.91%

$82.76

272,743
37.20% of 50 DAV
50 DAV is 733,200
$86.89
-5.63%
3/14/2013 $84.71 PP = $79.63
MB = $83.61
Most Recent Note - 3/21/2013 7:10:56 PM
Y - Volume totals have been cooling while consolidating following its technical breakout on 3/14/13 with a solid gain backed by 4.5 times average volume. Prior highs define initial support to watch above its 50 DMA line.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/14/2013. Click here.

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Symbol/Exchange
Company Name
Industry Group
PRICE CHANGE
(%Change)
Day High Volume
(% DAV)
(% 50 day avg vol)
52 Wk Hi
% From Hi
Featured
Date
Price
Featured
Pivot Featured
Max Buy
EVER - NYSE
Everbank Financial Corp
BANKING  
$15.44 +0.19
1.25%

$15.47

561,217
62.65% of 50 DAV
50 DAV is 895,800
$17.29
-10.70%
3/4/2013 $15.38 PP = $15.83
MB = $16.62
Most Recent Note - 3/22/2013 8:14:53 PM
G - Quietly consolidating near its 50 DMA line. That important short-term average has acted as support since damaging losses violated prior highs in the $16 area raising concerns while completely negating its prior technical breakout.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/4/2013. Click here.

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FLT - NYSE
Fleetcor Technologies
DIVERSIFIED SERVICES - Business/Management Services  
$76.69 +1.23
1.63%

$77.46

911,207
124.06% of 50 DAV
50 DAV is 734,500
$76.88
-0.25%
3/21/2013 $71.14 PP = $73.00
MB = $76.65
Most Recent Note - 3/25/2013 12:14:11 PM
Y - Perched at its 52-week high today. Rallied above its pivot point with 2 consecutive volume-driven gains last week triggering a technical buy signal. Prior high in the $72 area defines near-term support to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/21/2013. Click here.

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JAZZ - NASDAQ
Jazz Pharmaceuticals Plc
DRUGS - Biotechnology  
$56.01 -0.43
-0.76%

$56.70

650,330
119.46% of 50 DAV
50 DAV is 544,400
$60.79
-7.86%
3/5/2013 $59.10 PP = $60.10
MB = $63.11
Most Recent Note - 3/22/2013 8:30:25 PM
G - Color code is changed to green after quietly slumping below its 50 DMA line this week raising concerns. Its Relative Strength rating has also slumped to 58, well below the 80+ minimum guideline for buy candidates. Completed a Secondary Offering on 3/05/13. It did not trigger a technical buy signal after its latest base.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/7/2013. Click here.

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KORS - NYSE
Michael Kors Hldgs Ltd
RETAIL - Apparel Stores  
$55.22 -0.20
-0.36%

$55.80

3,842,274
63.30% of 50 DAV
50 DAV is 6,069,700
$65.10
-15.18%
1/23/2013 $54.98 PP = $58.72
MB = $61.66
Most Recent Note - 3/19/2013 5:35:59 PM
G - Color code is changed to green after slumping back below its 50 DMA line raising concerns. Completed another Secondary Offering 2/20/13 while perched near its all-time high.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/8/2013. Click here.

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LNKD - NYSE
Linkedin Corp Class A
INTERNET - Internet Information Providers  
$176.05 +0.22
0.13%

$177.48

1,386,207
55.86% of 50 DAV
50 DAV is 2,481,400
$184.15
-4.40%
2/8/2013 $147.04 PP = $127.55
MB = $133.93
Most Recent Note - 3/25/2013 8:33:09 PM
G - Erased most of the prior session's gain, retreating from its best-ever close with volume near average behind today's loss. Very extended from its prior base, meanwhile its 50 DMA line defines important near term support to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/11/2013. Click here.

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Symbol/Exchange
Company Name
Industry Group
PRICE CHANGE
(%Change)
Day High Volume
(% DAV)
(% 50 day avg vol)
52 Wk Hi
% From Hi
Featured
Date
Price
Featured
Pivot Featured
Max Buy
LOPE - NASDAQ
Grand Canyon Education
DIVERSIFIED SERVICES - Education and; Training Services  
$24.80 -0.10
-0.40%

$25.02

334,884
75.66% of 50 DAV
50 DAV is 442,600
$27.18
-8.76%
2/20/2013 $26.44 PP = $25.10
MB = $26.36
Most Recent Note - 3/20/2013 5:20:00 PM
G - Rising from its 50 DMA line with light volume behind its recent gains. Volume totals have cooled in recent weeks after it quickly negated the prior technical breakout. It has not formed a sound new base.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/13/2013. Click here.

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MIDD - NASDAQ
Middleby Corp
MANUFACTURING - Diversified Machinery  
$150.26 +1.29
0.87%

$150.91

66,194
70.49% of 50 DAV
50 DAV is 93,900
$154.74
-2.90%
10/8/2012 $118.46 PP = $122.67
MB = $128.80
Most Recent Note - 3/25/2013 9:01:47 PM
G - Recently staying in tight trading range near all-time highs, stubbornly holding its ground. Fundamental concerns were recently noted. See latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/25/2013. Click here.

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MNTX - NASDAQ
Manitex International
MANUFACTURING - Diversified Machinery  
$12.03 -0.42
-3.37%

$13.08

332,899
190.66% of 50 DAV
50 DAV is 174,600
$13.14
-8.45%
3/20/2013 $11.29 PP = $12.05
MB = $12.65
Most Recent Note - 3/26/2013 12:29:07 PM
Y - Reversed from the session's early highs which had it again briefly trading above the "max buy" level. A considerable gain with heavy volume cleared its pivot point and triggered a technical buy signal on the prior session. Disciplined investors avoid chasing stocks extended more than +5% above their pivot point.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/20/2013. Click here.

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MRLN - NASDAQ
Marlin Business Services
DIVERSIFIED SERVICES - Rental and Leasing Services  
$23.58 +0.42
1.81%

$23.62

19,185
81.29% of 50 DAV
50 DAV is 23,600
$23.65
-0.30%
3/15/2013 $22.29 PP = $23.18
MB = $24.34
Most Recent Note - 3/25/2013 8:45:21 PM
Y - Volume was +45% above average behind today's 6th consecutive gain as it hit a new 52-week high and finished at its best close of the year. The recent action is indicative of institutional accumulation, however it closed the session 2 cents below the pivot point cited. Subsequent volume-driven gains above the pivot point could help clinch a more convincing technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/15/2013. Click here.

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MWIV - NASDAQ
M W I Veterinary Supply
HEALTH SERVICES - Medical Instruments and; Supplies  
$134.25 +2.20
1.67%

$134.64

25,281
44.20% of 50 DAV
50 DAV is 57,200
$137.18
-2.14%
3/4/2013 $130.90 PP = $129.45
MB = $135.92
Most Recent Note - 3/22/2013 8:09:58 PM
Y - Pulled back today with above average volume, consolidating above its pivot point. Disciplined investors limit loses by selling if ever any stock fall more than -7% from their purchase price.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/6/2013. Click here.

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Symbol/Exchange
Company Name
Industry Group
PRICE CHANGE
(%Change)
Day High Volume
(% DAV)
(% 50 day avg vol)
52 Wk Hi
% From Hi
Featured
Date
Price
Featured
Pivot Featured
Max Buy
N - NYSE
Netsuite Inc
DIVERSIFIED SERVICES - Business/Management Services  
$77.83 +0.36
0.46%

$78.35

208,751
57.81% of 50 DAV
50 DAV is 361,100
$78.55
-0.92%
12/12/2012 $64.75 PP = $67.12
MB = $70.48
Most Recent Note - 3/22/2013 8:22:33 PM
G - Perched at its 52-week and all-time high, holding its ground after another gain backed by above average volume on the prior session. Its 50 DMA line acted as support during the recent consolidation.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/1/2013. Click here.

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NSR - NYSE
Neustar Inc
TELECOMMUNICATIONS - Diversified Communication Serv  
$46.05 +1.07
2.38%

$46.08

700,094
163.42% of 50 DAV
50 DAV is 428,400
$47.24
-2.52%
3/8/2013 $44.99 PP = $47.34
MB = $49.71
Most Recent Note - 3/22/2013 8:26:36 PM
Y - Its Relative Strength rating has slumped to 75, below the 80+ minimum guideline for buy candidates, while quietly consolidating this week near its 50 DMA line which has acted as support. Volume-driven gains above the pivot point may trigger a new (or add-on) technical buy signal. The 2/21/13 low ($42.40) defines important near-term support where any subsequent deterioration would raise greater concerns and trigger a worrisome technical sell signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 2/27/2013. Click here.

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SLCA - NYSE
U S Silica Holdings Inc
CHEMICALS - Specialty Chemicals  
$22.19 -0.87
-3.77%

$23.26

1,817,168
181.35% of 50 DAV
50 DAV is 1,002,000
$28.50
-22.14%
2/26/2013 $22.23 PP = $21.50
MB = $22.58
Most Recent Note - 3/25/2013 8:39:57 PM
G - Fell today with above average volume but ended near the middle of its intra-day range. Recently rebounding from damaging losses since completing a Secondary Offering on 3/14/13. Previously noted - "Very extended from its prior base, but having rallied more than +20% in the first 2-3 weeks after its breakout, the investment system rules suggest holding such winners for a minimum of 8 weeks."
>>> The latest Featured Stock Update with an annotated graph appeared on 3/22/2013. Click here.

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VRX - NYSE
Valeant Pharmaceuticals
DRUGS - Drug Manufacturers - Other  
$74.40 +0.45
0.61%

$74.48

774,675
61.53% of 50 DAV
50 DAV is 1,259,100
$74.81
-0.55%
12/20/2012 $60.24 PP = $61.21
MB = $64.27
Most Recent Note - 3/20/2013 12:52:11 PM
G - Hitting yet another new high with today's 3rd consecutive gain, getting very extended from the secondary buy point noted earlier. The 50 DMA line and recent low ($64.05 on 2/21/13) define important support areas to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/12/2013. Click here.

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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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